A polymer materials production plant with a total investment of 10 billion yuan ($1.4 billion) was officially signed up on Dec 18 to be based in the Taizhou Medical High-tech Zone – located in Taizhou city, in East China's Jiangsu province.
Funded by a listed group, the facility will settle in the zone's chemical and new materials industrial park, with plans for its first phase to start construction in 2024 and begin operating in 2026.
The project is in a strategic emerging industry being encouraged by the country. It will adopt innovative synthesis and processing techniques.
The products the plant will produce are said to have excellent biocompatibility and can be applied in fields such as medical devices, medical materials and consumables.
Moreover, related firms will further deepen cooperation with research institutions and universities to establish a new materials research and development pilot incubation center in the chemical and new materials industrial park – boosting the incubation and commercialization of high-value-added new materials products.